KUALA LUMPUR – Kobay Technology posted revenue rose 184.1% year-over-year and 7.8% sequentially to RM100.1 million (US$22.8 million) in the fiscal third quarter.

Net profit was RM15.1 million for the period ended Mar. 31, growth of 112.7% compared to the same quarter in 2021 and 4.1% sequentially.

Growth mainly came from the manufacturing segment, which doubled revenue to RM66.9 million. Strong performance was also primarily driven by demand from the semiconductor and electrical and electronics industries.

For the nine-month period, Kobay reported revenue of RM259 million, an increase of 135.2% year-over-year. Net profit was up 115.6% to RM39.3 million.

“Moving forward, we continue to be upbeat about the positive trajectory of the KTB with catalysts stemming from organic growth and new ventures,” said CEO and managing director Datuk Seri Koay Hean Eng. “Our new factory for the production of aluminium frames for solar panels is on the verge of completion. We expect production to begin by the end of the fourth quarter FY22. Additionally, we are venturing into electronics manufacturing services with the installation of surface mount technology lines to meet our customers' needs. We expect business activities to commence in a few months.”

Ed.: RM1 = US$0.23

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